As I sat in the January Conference of the CMSA (now known as the Commercial Real Estate Finance Council), I noticed some startling changes (link to my blog postings): the January meeting once was called the "Investor’s Conference," with a focus on CMBS bond holder issues and topics with the CMBS market "kind of" alive,… Continue Reading
Tag Archives: MBA
Senate Banking Committee Amends and Passes Reform Bill; CMSA Updates Its Summary and MBA Sees Risk Retention Problems
Posted in Good Times for Lenders, Market TrendsOn Monday (March 22, 2010), the Senate Banking Committee voted along party lines and passed the "Restoring American Financial Stability Act of 2010" (with a 13 to 10 vote). So, Senator Dodd’s financial reform bill makes its way out of the Senate Banking Committee. And now the bigger battle begins. But not before Committee members… Continue Reading
Covered Bonds: Still on the Agenda
Posted in Good Times for Lenders, Market TrendsCommentators note that one great attribute of the Internet, and the communities formed within and around it, is this: when someone wanders off (or climbs on a ledge), the community does a good job of nudging each other back to the group. Yes, I was a little disappointed (OK, even upset) at the lack of… Continue Reading
Dealing With a Distressed CBMS Loan? New Guidance from the Feds
Posted in Tax Issues, Tough Times for Lenders, Workout IssuesSick and beyond tired of the inflexibility of CMBS servicers in making needed modifications to CMBS loans that we all know are in the ditch? Help might be here: On September 15, 2009, the IRS and the Department of the Treasury issued three pieces of guidance relating to commercial mortgage loans held by a securitization… Continue Reading
Watch for Change at the State House: New State Taxes on Life Company Commercial Mortgage Loans & Servicing
Posted in Market Trends, Tough Times for LendersIn several earlier postings, I’ve warned of changes at the court house, and at state legislatures and state regulatory\administrative agencies. Today, the Mortgage Bankers Assn circulated an e-mail relating to current legislation in South Dakota for a new business tax "on interest and servicing income of life companies for loans made on commercial properties, similarly to what… Continue Reading